Yantai welcomes Hong Kong investors with open arms

A conference on green, low-carbon, and tech-finance cooperation between Yantai and Hong Kong convenes on May 26. [Photo provided to chinadaily.com.cn]

A conference on green, low-carbon, and tech-finance cooperation between Yantai and Hong Kong was convened on May 26. 

Yantai, a coastal city in East China’s Shandong province, shares a rich history of economic cooperation and cultural interactions with Hong Kong. Hong Kong has invested in over 4,100 projects in Yantai, with 867 Hong Kong-funded enterprises and a total investment exceeding $20.1 billion. In 2023, the import and export volume between Yantai and Hong Kong reached 12.52 billion yuan ($1.73 billion).

Zheng Deyan, mayor of Yantai, highlighted the city's efforts to construct a new energy system that integrates nuclear power, wind power, photovoltaics, hydrogen energy, energy storage, and liquefied natural gas (LNG) in a coordinated manner. The city is also fast-tracking the development of a modern industrial system and the establishment of productive service industrial clusters.

Zheng also extended an invitation to Hong Kong enterprises and investment institutions, aiming to deepen cooperation and exchanges in industries such as new energy, aerospace, automobile manufacturing, life sciences, and marine equipment.

The event resulted in the signing of 14 cooperation projects focusing on clean energy, petrochemicals, chemical new materials, and biomedicine, with a total investment of 23 billion yuan.